South Korea's Tobacco Export to Russia Reaches Record High

Regulations by 2FIRSTS.ai

Aug.12.2024

South Korea's Tobacco Export to Russia Reaches Record High

South Korea's tobacco and cigarette exports to Russia reached a nearly seven-year high, hitting $4 million in June.

According to a report by Pravda on August 11th, South Korea's export of tobacco and cigarettes to Russia in June of this year reached the highest level in nearly seven years, totaling $4 million. This figure is 2.3 times higher than in May and also marks the highest record since July 2017.

In the first half of this year, South Korea's total tobacco exports to Russia increased by 20%, reaching $12.3 million. This is compared to the total export of $12.8 million for the entire year last year.

According to reports, Russia's June tobacco imports mainly consisted of tobacco raw materials worth $1.2 million. In addition, there were $1 million worth of e-cigarettes, $880,000 worth of cigars, and $908,000 worth of industrial tobacco and alternatives.

The largest tobacco producer in South Korea is KT&G company, which played a key role in the growth of exports.

References:

[1] Южная Корея нарастила экспорт табака в Россию в 2,3 раза за месяц

Also Read:

[1] KT&G Reports Strong Second Quarter Financial Performance in 2024

[2] KT&G and PMI Collaborate to Launch New HNB E-Cigarette in US

[3] Korean Health Survey Reveals Increase in Youth E-cigarette Use

[4] Rising Trend of Teenage E-cigarette Use in South Korea

#Traditional tobacco #Asia #Market #South Korea

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